St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-10-25
STICKNEYS SCHEME.
Vhe Stock Yards VIII Be in Opera
alton in Chicago To-Day.
THE DULUTH g. IRON RANGE.
Bits Of Gossip About Railroad Men and
News About the Doings Of
Their Companies.

CHICAGO. Oct. 24.-The breaking up
OF the old stock yard corporation, which
has existed for so many years at the
dividing line between the city limits
and the Town of Lake, and the estab-
Gshment Of new headquarters by the
principal live stock buyers and shippers
In the town OF Lyons is change which
will have very important after effects
in the adjoining neighbOrhood. Armour
d Co.. the AllertOn Packing company.
Swift Bros. the Chicago Packing COM
pany and others are interested in the
movement. and the change may viz
tually said to be in operation after to-
day. President Stickney, of the Mime
Sofa IL Northwestern railroad, first
started this enterprise and induced the
great packers to approve the scheme
and give it practical embodiment. The
transfer of SO vast business to the new
locality will have a sensible effect on
several of the railroads, and the Union
stock yards Will speedily become a thing
of the past. This immense corporation
only started with capital of Sl,000.000.
Its shares before this project was set on
foot were quoted at 500 and the capital
stock was increased to S10,00G,0o0. If
the place is entirely vacated the yalua-
ton of the capital stock of the concern
estate value of the property, which is
estimated at s5.000,0O0. Even that rep
ceSentS three times the amount of the
original capital invested. The shares
will drop to $50 instead of Sl10, at which
the stock is still held. The new stock
yards at Lyons is practically project
Started in the interest of the Minnesota
~ Northwestern road, and that COM
pany has made such favorable PROPOSE
70 tin l,nt+ l,ns1
ready consent to the railroad under
taking was readily won. The switch
ing charges in the old Union yards
aggregated 5000 daily, while the Min
neSota charges for the same extent of
work will not exceed one-ffth of that
sum.
The Stock Yards Location.
Chicago Herald.
An ambitious railroad president, de-
Sirous of entering the glittering arena
of fnancierS who manipulate affairs
upon colossal scale, bought some hun
tlredS of acres i'll the town of Lyons, not
Tar from the line of his railroad. His
plan was and is to locate thereon new
stock yards and packing center. The
report gained currency during the week
that through munificent offerings to the
town of Lake he had succeeded. and that,
cevolutioniZing the whole business of
stock receipts and shipments, he would
build up 4 new, that would necessarily
be the destruction of the old, Packing
town. If this were true, it would bode
i'll not alone to the northern half of the
pOpulous town of Lake, but also to no
small portion to the southwestern sec
tiOn of the city. Values of real prop
Il %lNO,
would necessarily be shifted in large
number to the new locality, and neigh
bOrhOod retailers would find themselves
de. rived of certain wage-earning Gus
tom. q source of patronage embracing
the bulk of their trade.
The rumOr was not as diSquieting as
it might have proved, for, added to the
general incredulity that so radical a
change was of such easy accomplish
ment, little inquiry developed the i'm
possibility of etfecting the combination
under existing conditions. Several of
the railroads are prime factors in the
situation. They own interests in the
Stock Yards company, and they could
not afford to enter into a plan which,
destroying values in locality which
the yards and packing interests have
built up, would aggrandiZe new cOrpO-
ration Springing from railroad COM
pany competing with some OF the con-
Germs now owning large blocks of stock
in the yards established for twenty
years. Packers are attracted to live
stock yards. They cannot compel
such depots to follow them. Should
they go 10 Lyons the yards, and with
the yards the live stock market, remain
as at present located. Buying their
material in these yards the cost of re-
shipment would fall upon the packers,
who would remove to a new locality
that could not in the nature OF the stu
alton become a general market
What changes time may necessitate
in the localizing of particular industries
in growing city are conjectural, but
every additional year of use made of the
present site of live stock receipt and
conversion tends to permanency. Ger
tainly there is nothing in the present
situation to create any uneaSinesS in
the minds of the varied interests clus-
tered about and dependent upon the
great cattle entrepot and packing in
dustries as now localized near Chicago.
1t hardly lies within the power of the
Minnesota IL Northwestern to compass
radical change.